Centre mulls duty on steel

The government is considering imposing safeguard duty on certain steel imports to protect the domestic industry from the surge in shipments from countries like China and Korea.

SAIL, Essar Steel, JSW Steel and Jindal Steel and Power have moved the Directorate General of Safeguard for imposition of the levy on imports of 'hot-rolled flat sheets and plates of alloy or non-alloy steel' to “protect the domestic producers” from increased imports.

“The application has been examined and it has been found that prima facie increased imports of (the product) have caused or are threatening to cause serious injury to the domestic producers... and accordingly, it has been decided to initiate an investigation,” the DGS said while issuing notice for the probe.

It has asked views of “all interested parties” within 30 days from the date of this notice (December 7, 2015). Primarily, the product is imported from Indo-nesia, China, Japan, Kor-ea, Russia and Ukraine.

The domestic industry has asked for immediate imposition of safeguard measures for four years in their application.

It has also made a case for imposition of provisional safeguard duty in view of “steep deterioration” in performance of the local industry.